A consultant in borehole drilling and hydro-geologist has said that the highest cost to drill a borehole in a place like Ikeja, Lagos, cannot be more than N20 million.
The consultant who does not want his name mentioned for professional and security reasons said, with N20 million the contractor will still go home with a good profit margin.
He said the initial sand consultation will cost about N250,000. Borehole logging will give you another N250,000. The drilling of the borehole of about 250 metres with a diametre of about 8 to 10 inches should not cost more than N12 million. This includes the pump.
He said, if a solar power pump machine is used it could bring down the cost to N15 million.
Overhead tank and connecting the water supply to different parts of the complex or compound will bring another N2 million to the cost.
Another thing that could add to the cost is the type of steel used in casing the borehole.
He said with might steel, the contractor will still be spending under N20 million and still get a good profit margin.
He concluded that it if is an industrial borehole, the type used by beverage companies, the cost could go up to N40 to N50 million. Even with this cost analysis by a borehole expect, the cost of two boreholes by Lagos State government at the Lagos House, Ikeja, for N139 million (that is, N69.5 million each) is still on the high side.
If, as the expert said, it should not be more than N20 million per borehole, it means there is N49.5 million more than the actual cost.
If we assume the government used an industrial borehole which, according to the expert should not cost more than N40 to N50 million, it means there is between N29.5 million to N19.5 million added cost to the one sunk by Fashola administration.